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CHAPTER ONE

INTRODUCTION

INTRODUCTION TO BANK

A bank is a financial institution that provi!s bankin" an oth!r financial s!rvic!s

to th!ir custo#!rs$ A bank "!n!rall% un!rstoo as an institution &hich provi!s

funa#!ntal bankin" s!rvic!s such as acc!ptin" !posits an proviin" loans$ Th!

&or bank has b!!n !riv! fro# 'r!!k &or (BAN)UE* &hich #!ans a b!nch$

Bank #!ans +Th! acc!ptin" of !posits of #on!% fro# th! public for th! purpos!

of l!nin" or inv!st#!nt &hich ar! r!pa%abl! on !#an or oth!r&is! an

&ithra&abl! b% ch!,u!- raft- or!r or oth!r&is!.$

Banks ar! subs!t of th! financial s!rvic! inustr%$ A bankin" s%st!# also r!f!rr!

as a s%st!# provi! b% th! bank &hich off!rs cash #ana"!#!nt s!rvic!s for

custo#!rs- r!portin" th! transactions of th!ir accountin" an portfolios throu"hout

th! a%$ /ost banks op!rat! un!r a s%st!# kno&n as fractional r!s!rv! bankin"

&h!r! th!% hol onl% a s#all r!s!rv! of funs !posit! an l!n out th! r!st for

profit$

Th! bankin" s%st!# in Inia shoul not onl% b! hassl! fr!! but it shoul b! abl! to

#!!t th! n!& chall!n"!s pos! b% th! t!chnolo"% an an% oth!r !0t!rnal an

int!rnal factors$

1or th! past thr!! !ca!s- Inia*s bankin" s%st!# has s!v!ral outstanin"

achi!v!#!nt to its cr!it$ Th! banks ar! th! #ain participants of th! financial

s%st!# in s!v!ral faciliti!s an opportuniti!s to th!ir custo#!rs$ All th! banks

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saf!"uars th! #on!% an valuabl! an provi! loans- cr!it an pa%#!nt s!rvic!s

such as ch!ckin" accounts- #on!% or!r an cashi!r*s ch!,u!s$

Th! banks also off!r inv!st#!nt an insuranc! proucts$ As a vari!t% of #o!ls for

coop!ration an int!"ration a#on" financ! inustri!s hav! !#!r"! so#! of th!

traitional istinction b!t&!!n banks- insuranc! co#pani!s an s!curiti!s fir#s

hav! i#inish!$ In spit! of th!s! chan"!s- banks continu! to #aintain an p!rfor#

th!ir pri#ar% rol!2acc!ptin" !posits an l!nin" funs fro# th!s! !posits$

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INTRODUCTION TO FACILITIES PROVIDED BY BANKS TO

CHILDREN

Ev!r% par!nt aspir!s to "iv! th! b!st of !v!r%thin" to h!r3his is$ Ev!r% par!nt

r!a#s that h!r3his kis "!t th! b!st !ucation in th! &orl an h!r3his &!in"

shoul not b! l!ss than an% oth!r Bi" 1at Inian 4!in" an it shoul b! on! of

th! #ost talk! about !v!nt in to&n$ Par!nts o !v!r%thin" it tak!s to acco#plish

this r!a# of th!irs$ 5o th! #o#!nt ki is born par!nts start inv!stin" for th! ki*s

!ucation an #arria"!$

Par!nts !0plor! various options to inv!st for th!ir ki*s !ucation an #arria"!

&hich #a% inclu! inv!st#!nt in ir!ct !,uit% shar!s- #utual funs- r!al !stat!-

chil insuranc! plans- fi0! !posits- National 5avin" C!rtificat!- Public Provi!nt

1un an 'ov!rn#!nt Bon !tc$ Par!nt #ak! sur! no inv!st#!nt av!nu! is l!ft

un!0plor! &h!n it co#!s to choosin" an inv!st#!nt option for th!ir ki*s futur!$

Th!% #ak! sur! th!ir ki "!t th! b!st of !v!r%thin"$

+Chilr!n ar! th! futur! of th! countr%.$ 6ou n!v!r kno& &hat li!s th! futur!$

Irr!sp!ctiv! of th! t%p! of th! r!a# th! par!nt s!!s- I &ill sur!l% a"r!! that all

r!a#s co#! fro# &ith a pric! ta"$ A to it inflation an oth!r financial

co##it#!nts an %ou &ill r!ali7! that %ou n!! nothin" l!ss than a fortun! to!nsur! %our chil*s bri"ht futur!$ It ai#s to o !0actl% that b% h!lpin" %ou cr!at! a

financial corpus to #!!t %our chil*s futur! n!!s$

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About the Report

• Title of the tu!"#$ Th! pr!s!nt stu% is titl! as% A Pro&e't report o(

f)'ilitie pro*i!e! b" b)(+ to 'hil!re(%, Th! stu% is #a! &ith sp!cial

r!f!r!nc! to ICICI B)(+- K)l")( A(! SBI- K)l")(,

• Ob&e'ti*e of the tu!"#$ Th! follo&in" ar! th! ob8!ctiv! of th! stu%

To #ak! co#parativ! stu% of faciliti!s provi! b% bank to chilr!n

b% ICICI an 5BI$ To stu% th! probl!#s fac! b% custo#!rs in obtainin" th! chilr!n

plan$ To "ain 1a#iliarit% &ith a Ph!no#!non$

Perio! of the tu!"#$ Th! p!rio of th! pr!s!nt stu% is fro# oct 9:;<

Li.it)tio( of the Stu!"#$ Th! pr!s!nt stu% has "ot all th! li#itations of

cas! stu% #!tho$

• D)t) )(! /etho!olo0"#$ 1or th! purpos! of th! pr!s!nt stu% tak!n

pri#ar% ata an s!conar% ata$ In th! pri#ar% ata- I ha visit! ICICI bank an 5BI bank to coll!ct infor#ation of chilr!n plan provi! b% th!ir

banks$ In th! s!conar% ata- I ha r!f!rr! books- n!&spap!r to coll!ct

infor#ation$

CHAPTER T4O

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CO/PAN6 PRO1I=E

ICICI

ICICI bank li#it! is an Inian iv!rsifi! financial co#pan% h!a,uart!r! in

/u#bai- /aharashtra$ It is th! s!con lar"!st bank in Inia b% ass!ts an thir

lar"!st b% #ark!t capitali7ation$ Th! bank curr!ntl% has subsiiari!s in th! Unit!

Kin"o#- Russia an Canaa branch!s in Unit! 5tat!s- 5in"apor!- Bahrain- Hon"

kon"- 5rilanka- )uatar an Dubai Int!rnational 1inanc! C!ntr! an r!pr!s!ntativ!

offic! in Unit! Arab E#irat!s- China- 5outh Africa- Bna"la!sh- Thailan-

/ala%sia an Inon!sia$

Our UK subsiiar% has !stablish! branch!s in B!l"iu# an '!r#an%$ ICICI

bank*s !,uit% shar!s ar! list! in Inia on Bo#ba% 5!curit% E0chan"! an Th!

National 5tock E0chan"! of Inia =i#it! an its A#!rican D!positor%

R!c!ipts>ADRs? ar! list! on th! n!& 6ork 5tock E0chan"!>N65E?$

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Histor%

ICICI bank &as !stablish! in ;@@ b% th! Inustrial Cr!it Inv!st#!ntCorporation of Inia- an Inian financial institution as a &holl% o&n! subsiiar%$

Th! par!nt &as for#! in ;@<< as a 8oint v!ntur! of th! 4orl Bank$ ICICI bank

launch! int!rn!t bankin" op!ration in ;@@$ In th! ;@@:s- ICICI transfor#! its

busin!ss fro# a !v!lop#!nt financial institution off!rin" onl% pro8!ct financ! to a

iv!rsifi! financial s!rvic!s "roup- off!rin" a &i! vari!t% of proucts an

s!rvic!s- both ir!ctl% an throu"h a nu#b!r of subsiiari!s an affiliat!s lik!

ICICI Bank$ In ;@@@- ICICI b!co#! th! first Inian co#pan% an th! first bank or

financial institution fro# non2apan Asia to b! list! on th! N65E$ In 9:::- ICICI

bank b!co#! th! first Inian Bank to list on th! N65E &ith its fiv! #illion

A#!rican D!positor% shar!s issu! "!n!ratin" a !#an book ; ti#!s th! off!r

si7!$

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DEE=OP/ENT

ICICI bank is Inia*s s!con lar"!st bank &ith total ass!ts of Rs$ F-G$FG

Billion>U5 @ billion? at /arch ;- 9:;9$ An profit aft!r ta0 Rs$ F$<

Billion>U5;-9G; /illion? for th! %!ar !n! /arch ;- 9:;9$Th! bank

positionin" its!lf at th! l!ain" !"! of t!chnolo"% an is co#in" out &ith various

t!chnolo"i!s cars- s#art cars an onlin! !2co##!rc!$ Th! bank has alr!a%

launch! its !2bankin" s!rvic!s an #obil! bankin" for its custo#!rs as valu!

a! s!rvic!s$ Th! bank has put in plac! 9F hours custo#!r car! c!ntr! !nablin"

s!cur! onlin! bankin" an infor#ation s!rvic!s$ Th! bank has n!t&ork at 9-G<G

branch!s an @- AT/s in Inia an has pr!s!nc! in ;@ countri!s incluin"

Inia$ ICIC Bank is on! of th! bi" four banks of Inia- alon" &ith 5tat! Bank of

Inia- Pun8ab National Bank an Bank of Baroa$

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5BI

5tat! Bank of Inia >5BI? is th! lar"!st bankin" an financial s!rvic!s co#pan% in

Inia b% r!v!nu!- ass!ts an #ark!t capitali7ation$ It is a stat!2o&n! corporation&ith its h!a,uart!rs in /u#bai- /aharashtra$ Th! bank trac!s its anc!str% to

British Inia- throu"h I#p!rial Bank of Inia to th! founin" ;: of th! bank of

Calcutta- #akin" it th! ol!st co##!rcial bank in th! Inian 5ubcontin!nt$

Bank of /aras #!r"! into th! oth!r t&o pr!si!nc% banks2 Bank of Calcutta an

bank of Bo#ba% to for# th! I#p!rial bank of Inia - &hich in turn b!ca#! th!

5tat! Bank of Inia$ Th! "ov!rn#!nt of Inia nationali7! th! I#p!rial bank of

Inia in ;@<<- &ith th! R!s!rv! Bank of Inia takin" :J stak!- an r!na#! it th!

5tat! bank of Inia$ In 9::- th! "ov!rn#!nt took ov!r th! stak! h!l b% th!

R!s!rv! Bank of Inia$

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5BI has b!!n rank! 9< th in th! 1ortun! 'lobal <:: rankin"s of th! &orl*s

bi""!st corporations for th! %!ar 9:;9$ 5BI is a r!"ional bankin" b!h!#oth an is

on! of th! lar"!st financial institutions in th! &orl$ It has a #ark!t shar! a#on"

Inian co##!rcial banks of about 9:J in !posits an loans$

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Histor%

Th! roots of th! 5BI li! in th! first !ca! of ;@ th c!ntur%- &h!n th! Bank of

Calcutta- lat!r r!na#! th! Bank of B!n"al &as !stablish! on 9 un! ;:$ Th!

Bank of B!n"al &as on! of thr!! Pr!si!nc% Banks- th! oth!r t&o b!in" th! Bank

of Bo#ba%>Incorporat! on ;< April ;F:? an th! Bank of /aras>Incorporat!

on ; ul% ;F?$ All thr!! Pr!si!nc% banks &!r! incorporat! as 8oint stock

co#pani!s an &!r! th! r!sult of th! ro%al chart!rs$ Th!s! thr!! banks r!c!iv! th!

!0clusiv! ri"ht to issu! pap!r curr!nc% in ;; &ith th! Pap!r Curr!nc% Act- a ri"ht

th!% r!tain! until th! for#ation of th! RBI$ Th! Pr!si!nc% banks a#al"a#at!

on 9G anuar% ;@9;- an th! r!2or"ani7! bankin" !ntit% took as its na#! I#p!rial

Bank of Inia$ Th! I#p!rial Bank of Inia r!#ain! a 8oint stock co#pan%$

Pursuant to th! provisions of th! 5BI Act of ;@<<- th! RBI- &hich is Inia*s c!ntral

bank- ac,uir! a controllin" int!r!st in th! I#p!rial Bank of Inia$ On : April

;@<<- th! I#p!rial Bank of Inia b!ca#! th! 5tat! Bank of Inia$ Th! "ov!rn#!nt

of Inia r!c!ntl% ac,uir! th! R!s!rv! Bank of Inia*s stak! in 5BI so as to r!#ov!

an% conflict of int!r!st b!caus! th! RBI is th! countr%*s bankin" r!"ulator%

authorit%$

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In ;@<@- th! "ov!rn#!nt pass! th! 5tat! Bank of Inia Act- &hich #a! !i"ht

stat! banks associat!s of 5BI$ A proc!ss of consoliation b!"an on ; 5!pt!#b!r

9::- &h!n th! 5tat! Bank of 5aurashtra #!r"! &ith 5BI$ 5BI has ac,uir! local

banks in r!scu!s$ Th! first &as th! Bank of B!har>!st$ ;@;;?- &hich 5BI ac,uir!

in ;@@- to"!th!r &ith its 9 branch!s$ Th! n!0t %!ar 5BI ac,uir! National Bank

of =ahor!>!st$;@F9?- &hich ha 9F branch!s$

1iv! %!ars lat!r- in ;@G<- 5BI ac,uir! Krishnra# Bal!o Bank- &hich ha b!!n

!stablish! in ;@; in '&alior 5tat!- un!r th! patrona"! of /ahara8a /aho Rao

5cinia$ Th! bank ha b!!n th! Dukan Pichai- a s#all #on!%l!n!r- o&n! b% th!

/ahara8a$ Th! n!& banks first #ana"!r &as all N$ Broacha- a Parsi$ In ;@<- 5BI

ac,uir! th! bank of Cochin in K!rala- &hich ha ;9: branch!s$ 5BI &as th!

ac,uir! as its affiliat!- th! 5tat! Bank of Travancor!- alr!a% ha an !0t!nsiv!

n!t&ork in K!rala$

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DEE=OP/ENT

As of /arch 9:;9- it ha ass!ts of U5 : billion an ;F-;;@ branch!s- incluin"

;G for!i"n offic!s in G countri!s across th! "lob!$ Incluin" th! branch!s that

b!lon" to its associat! banks- 5BI has 9;-<:: branch!s$ 5BI provi!s a ran"! of

bankin" proucts throu"h its vast n!t&ork of branch!s in Inia an ov!rs!as-

incluin" proucts ai#! at non2r!si!nt Inians >NRIs?$ Th! 5tat! Bank 'roup

has th! lar"!st bankin" branch n!t&ork in Inia$ 5BI has ;F local h!a offic!s

situat! at Chani"arh >Pun8ab Har%ana?- D!lhi- =uckno& >Uttar Pra!sh?-

Patna >Bihar? Kolkata >4!st B!n"al?- 'uha&ati >North East Circl!?-

Bhu&an!sh&ar >Orissa Chattis"ha?- H%!raba >Anhra Pra!sh?- Ch!nnai

>Ta#il Nau?- Triv!nra# >K!rala?- Ban"lor! >Karnataka?- /u#bai >/aharashtra?-

Bhopal >/ah%a Pra!sh Ah#!aba >'u8arat? an <G 7onal Offic!s that ar!

locat! at i#portant citi!s throu"hout th! countr%$

Th! 5tat! Bank of Inia is th! 9@ th #ost r!put! Co#pan% in th! &orl accorin"

to 1orb!s$ Also- 5BI is th! onl% bank f!atur! in th! cov!t! +top ;: brans of

Inia. list in an annual surv!% conuct! b% Bran 1inanc! an Th! Econo#ic

Ti#!s in 9:;:$ Th! stat! Bank of Inia is th! lar"!st of th! Bi" four Banks of

Inia- alon" &ith ICICI Bank- Pun8ab National Bank an HD1C Bank2 its #ain

co#p!titors$

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CHAPTER

CO/PARATIE 5TUD6

ICICI 6OUN' 5TAR ACCOUNT

Th! ICICI 6oun" 5tars Accounts a sp!cial bank account !v!lop! for chilr!n$ It

is brou"ht to %ou b% ICICI bank to h!lp th! par!nts t!ach an !ucat! th!ir chilr!n

about i#portanc! of savin"s for futur!- ov!rall #on!% #ana"!#!nt- ho& to

#ana"! th!ir p!rsonal financ! in!p!n!ntl% an r!sponsibl%$ It is an !0c!ll!nt prouct to inculcat! savin" habits in chilr!n$ It can b! acc!ss! an op!rat!

onlin!$

ICICI 6oun" 5tar Account can b! call! as th! kis* bank account or savin"

account for chilr!n$ 5inc! it has b!!n #a! !sp!ciall% for chilr!n- th! ICICI

6oun" 5tar Account &!b pa"! is v!r% attractiv! an co#!s &ith #an% fun pa"!s

that h!lps in !v!lopin" int!r!st an !nhanc! kno&l!"! of th! chilr!n about

savin"$ Alon" &ith this- th! &!b pa"! also contains pa"!s about Int!rn!t Bankin"$

Chilr!n can transf!r th!ir pock!t #on!% ir!ctl% to th!ir savin"s account or shop

onlin! at 6oun" 5tars Pa"!$ H!nc!- it facilitat!s both l!arnin" an !v!lops int!r!st

of %our chilr!n to&ars financial plannin"$

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This account can b! op!n! for chilr!n un!r th! a"! "roup of ; a%2; %!ars$ It

is i#portant for th! par!nt3"uarian to hol an ICICI 5avin" Bank Account$

Int!rnational !bit car is issu! to th! par!nt or "uarian upon sp!cific r!,u!st$ To

op!n th! ICICI 6oun" 5tars account- th! par!nt shoul b! an !0istin" consu#!r of

th! bank an hol activ! ICICI savin"s bank account$ If not- both th! accounts can

b! op!n! si#ultan!ousl%$ )uart!rl% Av!ra"! Balanc! r!,uir! for ICICI 6oun"

5tar 5avin" Account is 8ust Rs$9-<::32$ ICICI 6oun" 5tars account can b! op!n!

t%pical savin" account or fi0! account or a r!currin" !posit account$ 5tanin"

instructions can b! provi! to transf!r sp!cific su# of #on!% !v!r% #onth

to&ars r!currin" !posit fro# th! ICICI 6oun" 5tar 5avin"s account or th! par!nt

account$

5i#ilarl%- th! fi0! account is op!n to a aitional !posit a#ount an th!

int!r!st rat!s an a#ount ar! a! on pro2rata basis$ At 6oun" 5tars- &! &ill

"ui! %our chil throu"h th! &orl of bankin" fro# ch!ckin" th! chil*s savin"s

account balanc! to "uiin" throu"h fun 7on!s an sp!cial pa"!s on th! Int!rn!t

Bankin" chann!l$ It #ak!s bankin" a pl!asur! an t!ach!s %our chil to #ana"!

his or h!r p!rsonal financ!s throu"h a savin"s account$ 6ou can transf!r pock!t

#on!% into %our chil*s account$ 6ou can !v!n shop &ith hi#3h!r at 6oun" 5tars

5hoppin" pa"!$ 6ou can also op!n a r!currin" !posit in %our chil*s na#!$

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Onc! %ou ar! on! &ith %our (bankin"*- %ou can acc!ss %our chil*s account &ith

all th! fun links to sp!cial 7on! !si"n! to suit %our chil*s ar!a of int!r!st an

also i#part kno&l!"! on th! curr!nt !v!nts of th! &orl$ ICICI Bank provi!

6oun" 5tar Account for sp!cificall% for chilr!n but also provi! th!# !ucation

plan account also$

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K!% 1!atur!s

Op!n a Ki*s 5avin"s Account- 1i0! D!posit or a R!currin" D!posit2 th! #on!%

!posit! "ro&s fast!r$ Th! !posit! #on!% can b! #ov! fro# savin"s account

to hi"h!r int!r!st !arnin" fi0! !posit$

Th! #ini#u# av!ra"! balanc! for a savin" account is Rs$9<::32 hi"h!r rat!s of

int!r!st than usual rat!s pai to oth!r savin"s account$

1r!! p!rsonali7! Ch!,u! Book2 1r!! p!rsonali7! ch!,u! book in th! chil*s

na#! "iv!s i!ntit% to th! chil$

Int!rn!t Bankin"2 5p!cial Int!rn!t Bankin" 1acilit% that allo&s co#pl!t! control

ov!r th! account2both th! "uarian an th! chil can acc!ss account onlin! &ith

s!parat! pass&ors$ Acc!ss to sp!cial 7on!s an links to r!lat! &!bsit!s for

#akin" Int!rn!t Bankin" a #!#orabl! !0p!ri!nc!$

1r!! Int!rnational D!bit Car2 th! a#ount can b! &ithra&n in a a% can b!

!ci! b% th! "uarian$ 1or chilr!n abov! th! a"! of G %!ars &ith f!atur!s as

b!lo&L

• Dail% &ithra&als li#its of Rs$;-:::39-<::3<-:::

• Dail% sp!n li#its of Rs$;-:::39-<::3<-:::

Dail% &ithra&als an sp!ns up to Rs$<-::: 2 cash &ithra&al at bank is

sub8!ct! to approval an &ith pr!s!nc! of th! par!nt or "uarian$ Th! n!0t ti#!%ou &ant to &ithra& cash fro# %our ICICI bank 6oun" 5tars savin" account- 8ust

&alk into an% bank*s AT/ an us! %our ICICI Bank AT/2cu#2!bit car for fr!!$

Th! abov! b!n!fit is availabl! to %oun" star savin"s account hol!rs on

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#aint!nanc! of a #onthl% av!ra"! balanc! of #or! than Rs$;:-:::32 in th! savin"s

account in a #onth$ Th! abov! b!n!fit can b! avail! in th! sa#! #onth$

Transf!r 1uns 1acilit%2 This is a facilit% to transf!r th! #on!% auto#aticall% fro#

th! "uarian*s account to th! chil*s account to !nabl! par!nt to inculcat! savin"s

habit a#on"st chilr!n$ 1acilit% of transf!rrin" funs fro# th! 6oun" 5tars

Accounts to th! RD to !nabl! th! par!nts to l!t th!ir chil !arn #or!$

A sp!cial R!currin" D!posit &ith aitional f!atur!s as b!lo&L

Th! par!nt &oul put for&ar th! !sir! a#ount to b! !arn! at th!

!n of th! t!nur!$ Bas! on th! pr!vailin" rat! of int!r!st- th! bank staff &oul th!n back

calculat! th! install#!nts to b! !posit! no& till #aturit%$

Onc! th! chil attains th! a"! of ; %!ars- th! account auto#aticall% c!as! to th!

#inor account an !n8o% th! faciliti!s of #inor account$ Ho&!v!r- th! par!nt can

opt for closur! of th! account !v!n b!for! th! chil attains th! a"! of ; %!ars$

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Docu#!ntation

Th! #inor can op!n a nor#al savin"s account >op!rativ! account? or a

fi0!3r!currin" !posit >non2op!rativ! account?$ Docu#!nts of par!nt3'uarian

applicants #ust satisf% th! follo&in" ocu#!ntation r!,uir!#!ntL

=at!st Photo"raph3s of applicant3s

R!lationship ocu#!nt

I!ntit% proof

Proof of co##unication ar!ss

5!lf ch!,u! >if th! applicant is not visitin" th! branch for account op!nin"?$

Proof of at! of birth of th! #inor$

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5BI =if! Insuranc!

As a carin" par!nt %ou &oul al&a%s &ant %our chil to "!t th! v!r% b!st$ To!nsur! that %ou fulfill r!a#s that %ou #a% hav! for %our lov! on!*s !ucation-

financial plannin" for th!ir s!cur! futur! is v!r% i#portant$ At 5BI lif!- &!

un!rstoo that$ That*s &h% &! pr!s!nt %ou host of chil plans so that %ou can

choos! th! on! of th! b!st that suits %our an %our chil*s n!!s b!st$ Our plans ar!

as acco##oatin" as %ou ar! for %our chil$

C!l!brat! =if!M 5BI =if! pr!s!nts a Chil Eucation Plann!r that &ill h!lp %ou

!t!r#in! inv!st#!nts %ou n!! to #ak! r!"ularl% in or!r to fulfill %our littl!

on!*s r!a#s$

SBI Life$ S'hol)r II

A traitional participatin" plan- 5BI =if!2 5cholar II has "uarant!! b!n!fits &hich

ar! pa%abl! at th! r!"ular int!rvals urin" th! t!r# of th! polic%$ In an unfortunat!

!v!nt- %our no#in!! &oul r!c!iv! full su# assur! alon" &ith v!st! bonus- plus

r!"ular "uarant!! survival b!n!fit$

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K!% 1!atur!s

T&in b!n!fit if savin" for %our chil*s !ucation an s!curin" a bri"ht futur!

!spit! th! unc!rtainti!s of lif!$

1ull risk cov!r throu"hout th! polic% t!r# irr!sp!ctiv! of pa%#!nt of

survival b!n!fits install#!nts$

Option to r!c!iv! th! install#!nts in lu#p su# at th! u! at! of first

install#!nt of 5urvival B!n!fit$

R!bat! for 1!#al! liv!s an hi"h 5u# Assur!$

;< a%s 1r!! =ook P!rio$

B!n!fits

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'uarant!! pa%#!nt at r!"ular int!rvals- &h!n th! chil attains ; %!ars of

a"!- th! par!nt has an option of R!c!ivin" th! su# assur! in F install#!nts$

A"! 'uarant!! B!n!fit Pa%#!nt

; %!ars 9<J of su# assur!

;@ %!ars 9<J of su# assur!

9: %!ars 9<J of su# assur!

9; %!ars 9<J of su# assur! v!st! bonus

R!c!ivin" th! 5urvival B!n!fits in a sin"l! install#!nt alon" &ith th! v!st! bonus$ !st! bonus is th! total a#ount of bonus accru! till at!- un!r th! polic%$

D!ath B!n!fitsL In th! !v!nt of unfortunat! inci!nt of %our !arl% !ath

urin" th! t!r# of th! plan- %our chil*s futur! r!#ains s!cur! in &a%sL Chil futur! !ucational n!! 9<J of su# assur! is pa%abl! in F

!,ual install#!nts &h!n th! chil attains th! a"! ; %!ars to 9; %!ars$

This !nsur!s th! chil*s hi"h!r !ucational n!!s ar! #!t$ I##!iat! Pa%#!ntL Th! no#in!! r!c!iv!s th! su# assur! alon"

&ith th! bonus !clar! until that at!$ All futur! basic pr!#iu#s n!! not b! paiL Ensurin" that %our fa#il%

is not financiall% bur!n! in %our abs!nc!$

Ta0 B!n!fits

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Ta0 !uction un!r 5!ction :>c? is availabl!$ Ho&!v!r in cas! th!

pr!#iu# pai urin" th! financial %!ar- !0c!!s ;:J of th! su# assur!- th!

b!n!fit &ill b! li#it! up to ;:J of th! su# assur!$

Ta0 !uction un!r 5!ction :>D? is availabl! for pr!#iu#s pai to&ars

Dhanvantri 5upr!#! iniviual Critical Illn!ss Ri!r$

Ta0 !0!#ption un!r 5!ction ;:>;:D? is availabl!- sub8!ct to th! pr!#iu#

not !0c!!in" ;:J of th! su# assur! in an% of th! %!ars urin" th! t!r# of

th! polic%$

Ta0 b!n!fits- ar! as p!r th! Inco#! Ta0 la&s ar! sub8!ct to chan"! fro#

ti#! to ti#!$ Pl!as! consult %our ta0 avisor for !tails$

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SBI Life$ S.)rt S'hol)r

=if! b!"ins afr!sh &h!n %ou b!co#! a par!nt$ It*s a 8o% %ou n!v!r f!lt an a f!!lin"%ou n!v!r !0p!ri!nc!$ 4h!n %our chil tak!s bab% st!ps to&ars %ou- %ou &on!r

&hat !ls! bliss coul b!

A#ist all this ivin! happin!ss- th!r!*s a n!& s!ns! of r!sponsibilit% that fills

%our h!art$ =ik! %ou #a% not r!all% b!li!v! that lif!*s a ros! b! or a t!n!r

cushion- but %ou c!rtainl% &ant it to b! for %our lov!l% chilr!n$ At 5BI lif!- &!

un!rstan an &! provi! %ou &ith a fl!0ibl! an all2!nco#passin" solution

throu"h our 5BI =if!2 5#art 5cholar Plan$ Choos! th! on! that suits %ou an %our

chil*s n!!s b!st$ Our sp!ciall% craft! 5#art 5cholar Plan is as acco##oatin"

as %ou ar! to %our chil$

K!% 1!atur!s

5!cur! %our chil*s futur! b% "ainin" fro# th! financial #ark!t an #uch

#or!$

Dual Prot!ction for %our fa#il%- is cas! %ou ar! not aroun2

Pa%#!nt of bas! 5u# Assur! an

Inbuilt Pr!#iu# Pa%or 4avi!r B!n!fit to !nsur! continuanc! of %our

b!n!fit$

Acci!nt b!n!fit &hich inclu!s acci!ntal !ath b!n!fit an acci!ntal total

an p!r#an!nt isabilit% b!n!fit- is an int!"ral prat$

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1r!! allocation of units b% &a% of r!"ular =o%alt% Aitions- "ivin"

p!rioic boosts to %our inv!st#!nts$

Enhanc! inv!st#!nt opportunit% throu"h @ vari! fun options inclu! P3E

/ana"! 1un$ In!0 1un Top :: 1un$

T&in b!n!fits of #ark!t link! r!turn insuranc! b!n!fit$

=i,uiit% throu"h partial &ithra&als$

B!n!fits

Basic =if! B!n!fitL

In th! !v!nt of unfortunat! !ath of lif! assur!- a lu#p su# b!n!fit

!,ual to hi"h!r of th! su# assur! or ;:<J of all pr!#iu#s pai till

at! of !ath &ill b! pa%abl!$ If on th! at! of !ath- th! su# assur! is l!ss than ;:<J of all

pr!#iu#s pai- th! a#ount in !0c!ss of th! su# assur! &ill b! pai

fro# %our fun b% isinv!st#!nt of units$ In th! !v!nt of !ath of chil no su# assur! is pa%abl!$ =if! assur!

&ill infor# th! co#pan% r!"arin" th! !v!nt$ In such cas! h!3sh! can

!ith!r continu! th! polic% or t!r#inat! th! contract$ In cas! of

t!r#ination of contract- th! fun valu! >&ithout an% surr!n!r char"!s?- &ill b! pa%abl!$

If both th! lif! assur! an th! chil i! urin" th! t!r# of th! polic%

th! polic% &ill b! auto#aticall% t!r#inat! an all u! b!n!fits &ill b!

pai alon" &ith th! fun valu!$

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/aturit% B!n!fitL

On co#pl!tion of th! polic% t!r#- #aturit% b!n!fit i$!$ th! fun valu!

shall b! pai to b!n!ficiar% in a lu#p su# or as p!r s!ttl!#!nt option-

if chos!n$ Th! b!n!ficiar% &ill b! th! polic%hol!r if h!3sh! surviv!s

OR chil- in cas! of !ath of th! lif! assur! urin" th! polic% t!r#$

Ta0 B!n!fitL

Ta0 !uction un!r 5!ction :C is availabl!$ Ho&!v!r in cas! th!

pr!#iu# pai urin" th! financial %!ar- !0c!!s ;:J of th! su#

assur!- th! b!n!fit &ill b! li#it! up to ;:J of th! su# assur!$ Ta0 !0!#ption un!r 5!ction ;:>;:D? is availabl!- sub8!ct to th!

pr!#iu# not !0c!!in" ;:J of th! su# assur! in an% of th! %!ars

urin" th! t!r# of th! polic%$ Ta0 b!n!fits- ar! as p!r th! Inco#! Ta0 la&s ar! sub8!ct to chan"!

fro# ti#! to ti#!$ Pl!as! consult %our ta0 avisor for !tails$

CHAPTER 1IE

CONC=U5ION

ICICI BANK PROIDE BETTER 5ERICE THAN 5BI BECAU5E

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• ICICI bank has a sp!cial account onl% for chilr!n i$!$ 6oun" 5tar Account

&h!r!as 5BI o not hav! a s!parat! account for chilr!n$ Chil plan is

provi! b% 5BI =if! Insuranc!$

• ICICI 6oun" 5tars Account &!b pa"! is v!r% attractiv! &h!r!as 5BI =if!

Insuranc! &!bpa"! is l!ss attractiv!$

• ICICI 6oun" 5tars Account co#!s &ith #an% int!r!st an !nhanc!

kno&l!"! of th! chilr!n about savin"$

• In ICICI 6oun" star account- chilr!n can transf!r th!ir pock!t #on!%

ir!ctl% to th!ir savin" a3c or shop onlin! at %oun" stars pa"!$

• Th! #ini#u# av!ra"! balanc! for a savin"s a3c is Rs$9<:: in ICICI 6oun"

5tars Account &h!r!as Rs$ <:-::: in 5BI$

• ICICI 6oun" 5tars Account provi!s hi"h!r rat!s of int!r!st than usual rat!s

pai to th! oth!r savin" account$

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• ICICI 6oun" 5tars Account is a bankin" s!rvic! for chilr!n in th! a"! "roup

of ; a%2; %!ars &h!r!as 5BI provi!s chil plan fro# : %!ars2;G %!ars$

• ICICI %oun" 5tars Account #a0i#u# &ithra&al li#it for s!lf is Rs$<::::

p!r a% an for Thir part% is Rs$;<::: p!r a%$

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7/25/2019 CBM AASHU


BIB=IO'RAPH6

Bankin" an 1inancial 5%st!#2 $ Nit%anana 5ar#a

4EBI=O'RAPH6

httpL33&&&$icicibank$co#

httpL33&&&$stat!bankofinia$co#

httpL33&&&$sbilif!$co$in

httpL33vi%a"%an$blo"spot$in

httpL33&&&$la&!rsclubinia$co#

http://www.icicibank.com/

http://www.statebankofindia.com/

http://www.sbilife.co.in/

http://vidyagyan.blogspot.in/

http://www.lawersclubindia.com/

http://www.statebankofindia.com/

http://www.sbilife.co.in/

http://vidyagyan.blogspot.in/

http://www.lawersclubindia.com/

http://www.icicibank.com/

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